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March 18, 2016

Perth’s fastest selling suburbs

Heathridge, Leederville and Shenton Park top the list of Perth suburbs that have recorded faster than average selling days for the year to February 2016.

Although Perth buyers are still in a good position to take their time finding the right home, Real Estate Institute of Western Australia (REIWA) president Hayden Groves says reiwa.com’s latest data shows a number of suburbs were experiencing faster than average turnover.

“The average selling days for the overall Perth market for the year to February 2016 is 62 days, however when we drill down to suburb level we see numerous pockets across the metropolitan area where it takes much less time to sell and where buyers need to act quickly to secure their purchase,” he says.

LJ Hooker Joondalup senior sales consultant Mark Pitman says he’s not surprised Heathridge takes out top place in the data findings.

“A lot of Joondalup infrastructure is now being completed. What it comes down to is good infrastructure, we’ve got good roads, good schools attracting families and shopping amenities,” he says.

“Ocean Reef Road has just been upgraded, we’ve now got direct route to the beach,” he adds.

The analysis also shows that half of the suburbs on the list had an overall median price (across houses and units) below $500,000 – traditionally the first homeowner market.

“First homebuyers remain active in the Perth property market with current market conditions continuing to entice this demographic to take their first step into home ownership,” Groves says.


Perth’s 10 fastest selling suburbs

Suburb Average selling days Overall median
1. Heathridge 33 $476,000
2. Leederville 35 $703,500
3. Shenton Park 37 $900,000
4. Woodvale 39 $630,000
5. Ferndale 40 $475,000
6. Parkwood 40 $494,500
7. Hamersley 40 $561,000
8. Beldon 41 $485,000
9. Craigie 42 $470,000
10. Kingsley 42 $580,000

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